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Create Market Order

Create Market Order

Owned by Heiða
Last updated: 13.03.2023
3 min read

 

Create Market Order

The Market Order window allows you to create a DMA order and send them to a broker on the market.
Open the Market Order window by clicking New Order under the Trading menu.

 

It is also possible to select a symbol in a Watch List and create an order from there.

 

New Order window

B/S

Buy or Sell order.

Quantity

The quantity being bought or sold.

Instrument

The symbol or company.
Autocomplete text box. 
Type in the first letters and the system will suggest from available instruments.

Price

Used to specify a limit price for the order. For pegged orders, the price field can be used to specify a Cap Price.

Order Type

Limit, Market, LOO, LOC, MOP, MOC, IOOC, IOOP

Visible Quantity

Usually called iceberg order.  The quantity that will be displayed on the market.

Hidden

Makes the order hidden. This only works for orders with large quantity.

TIF

Time In Force.

Day: Valid until the end of the trading day.
FOK: Fill or kill.
IOC: Immediate or cancel.
GTC: Good till cancel.
GTT: Good till time.

Date

Used when GTT is selected in the TIF.

Broker

The broker that the order will be sent to.

 

 

Fat finger warning

The Fat finger warning is turned on by default. In can be turned off in Tools.

When this setting is turned on, the Kodiak client warns the user if they are entering an order that will be executed immediately.

The fat fingers warning will appear when:

  1. The bid price you have entered is greater than the best ask price on the market.

  2. The ask price you have entered is less than the best bid price on the market.

 

 

 

Create Bulk Order

Users can create bulk orders by clicking Bulk Orders.